Stockholders' Equity

6 Months Ended

Jun. 29, 2019

Equity [Abstract]

Stockholders' Equity

Accumulated other comprehensive income (loss)

The changes in accumulated other comprehensive income (loss) by component, for the six months ended June 29, 2019 are as follows:

	Foreign currency translation adjustments			Pensions, net of tax		Total
Balance as of December 31, 2018	$	(782,102	)	(9,506	)	(791,608	)
Current period other comprehensive income	59,020			67		59,087
Balance as of June 29, 2019	$	(723,082	)	(9,439	)	(732,521	)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended June 29, 2019 and June 30, 2018 (in thousands).

			Total Stockholders’ Equity
	Redeemable Noncontrolling Interest		Common Stock					Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock					Noncontrolling Interest		Total Stockholders’ Equity
			Shares		Amount												Shares		Amount
March 30, 2019	$	—	79,771		$	798		$	1,853,484		$	6,709,782		$	(777,547	)	(7,349	)	$	(215,716	)	$	6,244	$	7,577,045
Shares issued under employee and director stock plans	—		7		—			(24		)	—			—			1		4			—		(20		)
Stock-based compensation expense	—		—		—			5,788			—			—			—		—			—		5,788
Repurchases of common stock	—		(66	)	(1		)	—			(8,962		)	—			—		—			—		(8,963		)
Accretion of redeemable noncontrolling interest	—		—		—			—			—			—			—		—			—		—
Noncontrolling earnings	—		—		—			—			—			—			—		—			214		214
Currency translation adjustment on non-controlling interests	—		—		—			—			—			—			—		—			—		—
Currency translation adjustment	—		—		—			—			—			45,067			—		—			60		45,127
Prior pension and post-retirement benefit service cost and actuarial gain / loss	—		—		—			—			—			(41		)	—		—			—		(41		)
Net income	—		—		—			—			202,441			—			—		—			—		202,441
June 29, 2019	$	—	79,712		$	797		$	1,859,248		$	6,903,261		$	(732,521	)	(7,348	)	$	(215,712	)	$	6,518	$	7,821,591

				Total Stockholders’ Equity
	Redeemable Noncontrolling Interest			Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)			Treasury Stock					Noncontrolling Interest			Total Stockholders’ Equity
				Shares	Amount									Shares		Amount
March 31, 2018	$	30,924		81,883	$	819	$	1,827,075	$	6,212,966	$	(487,168	)	(7,350	)	$	(215,749	)	$	8,066		$	7,346,009
Shares issued under employee and director stock plans	—			69	1		1,340		—		—			—		4			—			1,345
Stock-based compensation expense	—			—	—		13,645		—		—			—		—			—			13,645
Repurchases of common stock	—			—	—		—		—		—			—		—			—			—
Accretion of redeemable noncontrolling interest	—			—	—		—		—		—			—		—			—			—
Noncontrolling earnings	781			—	—		—		—		—			—		—			178			178
Currency translation adjustment on non-controlling interests	(1,662		)	—	—		—		—		—			—		—			(364		)	(364		)
Currency translation adjustment	—			—	—		—		—		(184,323		)	—		—			—			(184,323		)
Prior pension and post-retirement benefit service cost and actuarial gain / loss	—			—	—		—		—		358			—		—			—			358
Net income	—			—	—		—		196,586		—			—		—			—			196,586
June 30, 2018	$	30,043		81,952	$	820	$	1,842,060	$	6,409,552	$	(671,133	)	(7,350	)	$	(215,745	)	$	7,880		$	7,373,434

e following tables reflect the changes in stockholders’ equity for the six months ended June 29, 2019 and June 30, 2018 (in thousands).

			Total Stockholders’ Equity
	Redeemable Noncontrolling Interest		Common Stock					Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock					Noncontrolling Interest		Total Stockholders’ Equity
			Shares		Amount												Shares		Amount
January 1, 2019	$	—	79,656		$	797		$	1,852,173		$	6,588,197		$	(791,608	)	(7,349	)	$	(215,745	)	$	6,245	$	7,440,059
Shares issued under employee and director stock plans	—		122		1			(4,502		)	—			—			1		33			—		(4,468		)
Stock-based compensation expense	—		—		—			11,577			—			—			—		—			—		11,577
Repurchases of common stock	—		(66	)	(1		)	—			(8,962		)	—			—		—			—		(8,963		)
Accretion of redeemable noncontrolling interest	—		—		—			—			—			—			—		—			—		—
Noncontrolling earnings	—		—		—			—			—			—			—		—			204		204
Currency translation adjustment on non-controlling interests	—		—		—			—			—			—			—		—			—		—
Currency translation adjustment	—		—		—			—			—			59,020			—		—			69		59,089
Prior pension and post-retirement benefit service cost and actuarial gain / loss	—		—		—			—			—			67			—		—			—		67
Net income	—		—		—			—			324,026			—			—		—			—		324,026
June 29, 2019	$	—	79,712		$	797		$	1,859,248		$	6,903,261		$	(732,521	)	(7,348	)	$	(215,712	)	$	6,518	$	7,821,591

				Total Stockholders’ Equity
	Redeemable Noncontrolling Interest			Common Stock			Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock					Noncontrolling Interest			Total Stockholders’ Equity
				Shares	Amount											Shares		Amount
January 1, 2018	$	29,463		81,771	$	818	$	1,828,131		$	6,004,506		$	(558,527	)	(7,350	)	$	(215,766	)	$	7,847		$	7,067,009
Shares issued under employee and director stock plans	—			181	2		(7,664		)	—			—			—		21			—			(7,641		)
Stock-based compensation expense	—			—	—		21,593			—			—			—		—			—			21,593
Repurchases of common stock	—			—	—		—			—			—			—		—			—			—
Accretion of redeemable noncontrolling interest	305			—	—		—			(305		)	—			—		—			—			(305		)
Noncontrolling earnings	1,226			—	—		—			—			—			—		—			209			209
Currency translation adjustment on non-controlling interests	(951		)	—	—		—			—			—			—		—			(176		)	(176		)
Currency translation adjustment	—			—	—		—			—			(112,829		)	—		—			—			(112,829		)
Prior pension and post-retirement benefit service cost and actuarial gain / loss	—			—	—		—			—			223			—		—			—			223
Net income	—			—	—		—			405,352			—			—		—			—			405,352
June 30, 2018	$	30,043		81,952	$	820	$	1,842,060		$	6,409,552		$	(671,133	)	(7,350	)	$	(215,745	)	$	7,880		$	7,373,434